The global ketones market size is expected to witness potential gains in the future, and register a significant CAGR over the forecast period (2019 - 2027).

Market Overview

Ketones are structurally similar to aldehydes and also possess a carbonyl group and are commercially produced as solvents, polymer precursors, and pharmaceuticals. These compounds are found in several sugars and in compounds for medicinal use, including natural and synthetic steroid hormones. Cortisone, an anti-inflammatory agent, contains ketones. Some of the major ketones include, acetone, methyl ethyl ketone, and cyclohexanone. Methyl ethyl ketone (MEK), also known as butanone, is used as a solvent.

Market Dynamics

Increasing demand for acetone, methyl ethyl ketone, and cyclohexanone from end-use industries is expected to boost growth of the global ketones market. Methyl ethyl ketone is used in solvent-borne coatings, powder coatings, specialty coatings, and waterborne coatings. Acetone is used as a solvent for several plastics and some synthetic fibers. It is also used as an excipient and solvent in the pharmaceutical industry. Therefore, significant growth in the pharmaceutical industry is expected to boost demand for acetones. This in turn is expected to boost growth of the global ketones market. Cyclohexanone is used in the production of precursors to Nylon 6,6 and Nylon 6. Therefore, increasing production of nylon in the textile industry is expected to boost the market growth.

Unsaturated ketones such as methyl vinyl ketone are toxic, which is expected to hinder the market growth to some extent.

Market Outlook

Asia Pacific is expected to account for a significant market share, owing to growing textile and chemicals industry. The market in Asia Pacific is driven by major growth engines India and China. Increasing demand for acetone from the home care sector is also expected to boost growth of the market. Acetones are found in households products such as nail polish removers and paint thinners.

North America is expected to witness significant growth, owing to presence of major pharmaceutical companies in the region. Ketone is also a bio compatible material used in medical implants. Therefore, increasing demand for medical implants from the medical sector is also expected to contribute to the market growth in North America.

Key Players

Major players operating in the global ketones market include, Caledonian Ferguson Timpson Ltd, Jida Evonik High Performance Polymers (Changchun) Co. Ltd., Panjin Zhongrun High Performance Polymers Co. Ltd., Prototype & Plastic Mold Co. Inc., Solvay Specialty Polymers, and Tri Town Precision Plastics, Inc.

Key Developments:-

  • In January 2020, Limitless Venture Group, Inc. partnered with KetoSports, Inc. to acquire its majority of ownership. KetoSports, Inc. is a manufactuer of ketones. The acquisition aims to expand the business in ketones market by Limitless Venture Group, Inc.
  • In November 2019, ALTIVIA Ketones & Additives, LLC, accomplished the acquisition of Dow's Acetone Derivatives Business and chemical manufacturing assets at West Virginia. The Acetone Derivatives Business is engaged in the production of Ketones and Carbinol which is used in coatings, adhesives and also in pharmaceutical industry.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

Data Triangulation Methodology | Coherent Market Insights

Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

Market Analysis | Coherent Market Insights

Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users